Lockheed, maker of the F-35 stealth fighter plane, reported an 11% jump in earnings to $2.64 per share. Analysts polled by Thompson Reuters were expecting earnings of $2.20 per share. Revenue dipped 4.2% to $11.4 billion, but still topped estimates of $11.1 billion.

Shares were up 2.5% in the stock market today. Northrop shares were rallying less than 1%.

The sequester budget cuts didn't have as big an impact on Lockheed's earnings as expected, as the company looks aboard for sales. Earlier this month, Lockheed announced that it was launching a new international arm to curb the fall in U.S. sales, joining Boeing and Raytheon in focusing on overseas markets.

With the earnings beat, Lockheed raised its previously cautious full-year earnings guidance to $9.20-$9.50 a share from an earlier forecast of $8.80-$9.10 a share. Analysts were expecting $9.01.

Northrop is slated to report earnings Wednesday. Analysts are expecting the maker of the Global Hawk drones to report a 9% dip in earnings to $1.71 per share. Revenue is seen falling 4.7% to $5.98 billion.

General Dynamics earnings are also on tap for Wednesday. Analysts expect the defense contractor and maker of Gulfstream business jets to report an 8.5% drop in EPS to $1.62. Revenue is expected to fall 2.5% to $7.7 billion.

The Aerospace/Defense group is ranked No. 36 out of the 197 industry groups IBD tracks.

See Also

The stock market continued to rebound Monday, as the major indexes rallied more than 1%. The Dow Jones industrial average led with a 1.5% surge as Boeing (NYSE:BA), Chevron (NYSE:CVX), UnitedHealth Group (NYSE:UNH) and new component Apple (NASDAQ:AAPL) climbed more than 2%. The Nasdaq and S&P 500 ...

Boeing (NYSE:BA) got a big order from Oman Air on Monday as Middle Eastern carriers look to expand routes to regional markets and take on European and Asian competition. Oman Air, the flagship carrier for the Arab nation, ordered 20 Boeing 737s as it looks to double its fleet to 70 plants by the ...

The Federal Communications Commission, following the preference of phone companies, on Thursday unanimously awarded a major telecom database contract to Ericsson's Telcordia Technologies, which the agency said easily outbid incumbent Neustar. Industry trade group USTelecom — whose members ...

Apple's entry into the Dow Jones Industrial Average last week was a big deal — for Apple perhaps.And for ETF investors? Not so much, says Alex Bryan, an analyst at Morningstar Manager Research. "The change makes sense in terms of meeting the index's objective of providing exposure to industry ...

Raytheon's board of directors has raised the company's quarterly dividend more than 10% to 67 cents a share, which works out to an annualized yield of 2.4%. The first dividend at that level will be paid April 30 to shareholders of record on April 1. That will mark the 11th straight year in which ...

03/24/2015 05:35 PM ET

More Business Articles:

Dish Network (NASDAQ:DISH), the nation's second largest satellite TV provider, is pitching expanded baseball, including the addition of MLB Extra Innings, to subscribers. Dish, Major League Baseball and MLB Advance Media jointly announced the multiyear deal Tuesday, just ahead of the start of the ...

Used-auto dealer CarMax (NYSE:KMX) is trading near record highs as it prepares to report fiscal fourth-quarter results this week, with analysts expecting the company to continue its recent run of strong financial growth. CarMax, which gets a high IBD Composite Rating of 93 out of a possible 99, is ...

Shares of cigarette makers Lorillard (NYSE:LO) and Reynolds American (NYSE:RAI) fell in heavy volume Tuesday on reports that Federal Trade Commission staff recommended a lawsuit to block their proposed $27.4 billion merger. The New York Post first reported that FTC staff made the recommendation, ...

On the heels of rumors that e-commerce giant Amazon (NASDAQ:AMZN) was looking to buy Net-a-Porter, Yoox has confirmed that it is combining with the popular luxury online retailer in an all-share merger. The new company, Yoox Net-a-Porter, will boast combined 2014 net revenue of about $1.4 billion ...

Highly rated CBRE Group (NYSE:CBG) shot up Tuesday after the company announced that it has agreed to acquire Johnson Controls' (NYSE:JCI) workplace solutions unit for $1.475 billion. The property manager expects the Global WorkPlace Solutions (GWS) business, which is an integrated facilities ...

Select market data is provided by Interactive Data Corp. Real Time Services. Price and Volume data is delayed 20 minutes unless otherwise noted, is believed accurate but is not warranted or guaranteed by Interactive Data Corp. Real Time Services and is subject to Interactive Data Corp. Real Time Services terms. All times are Eastern United States. *Reflects real-time index prices.